Date: 2012-01-23
Type of information: Commercialisation agreement
Compound: Veregen® ointment (made from the extract of green tea leaves - catechins)
Company: Medigene (Germany) EIP Eczacibasi Ilac Pazarlama A.S. (Turkey)
Therapeutic area: Infectious diseases - Gynecology
Type agreement: supply
commercialisation
Action mechanism:
Disease: external genital warts
Details: MediGene and EIP Eczacibasi Ilac Pazarlama A.S have concluded an agreement for the supply and commercialization of Veregen® ointment in Turkey. EIP Eczacibasi will be responsible for the regulatory approval procedure activities for Veregen® in Turkey. MediGene has already entered into several marketing partnerships for Veregen®, including Fougera (formerly Nycomed) for the United States; Abbott for Germany, Austria, and Switzerland; Laboratoires Expanscience for France; and a number of other partners across Europe, America, and Asia. MediGene is planning to continue this global licensing strategy. Veregen® is currently available in the United States, Germany, and Austria. In Spain, the drug was granted marketing approval and product launch is expected in 2012. Marketing authorization applications were recently submitted in 17 additional European countries through the mutual recognition procedure, with the German marketing approval for Veregen® serving as the basis.
Financial terms: MediGene is entitled to successive payments, due upon the achievement of set regulatory and sales milestones, and will receive double-digit royalties on sales of Veregen® in Turkey. Any further financial details of the agreement were not disclosed.
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